Tesla exec shuffle: Elon Musk appoints himself CEO, lays off staff

The drama never stops at Tesla Motors -- following a morning of feverish rumors, the company has officially announced that it's replacing CEO Ze'ev Drori with board chairman Elon Musk. Tesla says that Drori will remain "active" with the company as a vice chairman of the board, but it looks like it's now more Musk's company than ever before -- and his first order of business is apparently to lay off staff to get the company "cash positive" in the next six to nine months. Other than the closing of the Detroit Tesla office, it's not clear what the layoffs will entail -- Musk say they'll be "modest" -- but hopefully we'll start to see more cars and fewer headlines from the upstart electric car company in the near future.

Read - CNET report
Read - Elon Musk blog post